Knight-Swift Transportation Holdings Inc.
Company History
Knight-Swift History: Founding, Growth & Key Milestones
Founded 2017 in Phoenix, Arizona
When was Knight-Swift founded?
Knight-Swift was founded in 2017 in Phoenix, Arizona by Jerry Moyes and Kevin Knight, making it 9 years old.
- Founded
- 2017
- Founding place
- Phoenix, Arizona
- Founders
- Jerry Moyes and Kevin Knight
- Headquarters today
- Phoenix, Arizona
- Milestones documented
- 10 (1966–2026)
- Current CEO
- Adam Miller
- Acquisitions
- 4
| Year | Event |
|---|---|
| 1966 | Founding of Swift Transportation |
| 1990 | Founding of Knight Transportation |
| 2017 | Knight and Swift Merge |
| 2021 | Acquisition of AAA Cooper Transportation |
| 2022 | Acquisition of Midwest Motor Express |
| 2023 | Acquisition of U.S. Xpress |
| 2024 | Adam Miller Appointed CEO |
| 2024 | FY2024 Revenue of $7.41 Billion |
| 2025 | FY2025 Revenue Reaches $7.470 Billion |
| 2026 | Q2 2026 Truckload Rebound |
- Where was Knight-Swift founded?
- Knight-Swift was founded in Phoenix, Arizona in 2017.
- Who founded Knight-Swift?
- Knight-Swift was founded by Jerry Moyes and Kevin Knight.
- When did Knight-Swift start?
- Knight-Swift was founded in 2017.
- How old is Knight-Swift?
- Knight-Swift is 9 years old as of 2026.
Founding Story
Swift Transportation was founded in 1966 by Jerry Moyes and grew through acquisitions into one of the largest U.S. truckload carriers. Knight Transportation was started in Phoenix in 1990 by members of the Knight family, several of whom had worked at Swift, and became known for cost discipline and high margins. The two rivals combined in September 2017 in an all-stock merger, with Knight's management team leading the combined company.
Founders
Jerry Moyes
Jerry Moyes founded Swift Transportation in 1966 and led its growth into a national truckload carrier through decades of expansion and acquisitions. He took Swift private in 2007 and it returned to public markets in 2010. Swift merged with Knight Transportation in 2017 to form Knight-Swift. Jerry Moyes was born in 1944.
Kevin Knight
Kevin Knight co-founded Knight Transportation in 1990 with family members, several of whom had previously worked at Swift. Knight became known for tight cost control and an operating ratio well below the industry norm. After the 2017 merger with Swift, Knight's leadership and operating model shaped the combined company. Kevin Knight was born in 1956.
Key Milestones
Founding of Swift Transportation
Jerry Moyes and his father Carl founded Swift Transportation with a single used truck, moving imported steel and cotton between Arizona and California, initiating an acquisition strategy that would eventually build the largest truckload carrier in North America.
Source: en.wikipedia.orgFounding of Knight Transportation
Four cousins - Kevin, Keith, Randy, and Gary Knight - founded Knight Transportation in Phoenix, Arizona, with a modest fleet of dry vans, establishing a culture of safety, driver retention, and operational discipline that would define the company's future success.
Source: en.wikipedia.orgKnight and Swift Merge
Knight Transportation and Swift Transportation completed an all-stock merger in September 2017, forming Knight-Swift Transportation Holdings with Knight's management leading the combined company.
Source: en.wikipedia.orgAcquisition of AAA Cooper Transportation
Knight-Swift bought Southeast LTL carrier AAA Cooper Transportation for about $1.35 billion, creating its LTL segment.
Source: en.wikipedia.orgAcquisition of Midwest Motor Express
Knight-Swift added Midwest Motor Express (MME) to extend its LTL network into the Upper Midwest.
Source: en.wikipedia.orgAcquisition of U.S. Xpress
Knight-Swift acquired truckload carrier U.S. Xpress Enterprises, adding a large fleet it set out to bring up to Knight's margin standards.
Source: en.wikipedia.orgAdam Miller Appointed CEO
Adam Miller, previously Knight-Swift's CFO, became CEO in February 2024 after Dave Jackson stepped down.
Source: en.wikipedia.orgFY2024 Revenue of $7.41 Billion
Knight-Swift reported $7.41 billion of FY2024 revenue and $117.6 million of net income as weak truckload pricing persisted.
Source: en.wikipedia.orgFY2025 Revenue Reaches $7.470 Billion
Knight-Swift reported $7.470 billion in FY2025 consolidated total revenue, $216.1 million in operating income, $65.9 million in net income attributable to the company, and about 37,100 full-time employees.
Source: sec.govQ2 2026 Truckload Rebound
Q2 2026 revenue rose 12.6% to $2.10 billion and adjusted EPS rose 80% to $0.63 as truckload pricing tightened and intermodal and U.S. Xpress returned to profitability.
Source: s24.q4cdn.comMajor Acquisitions
Swift Transportation
2017Knight Transportation and Swift Transportation combined in an all-stock merger completed in September 2017, uniting two Phoenix truckload rivals.
AAA Cooper Transportation
2021Knight-Swift acquired Southeast LTL carrier AAA Cooper Transportation in 2021 for about $1.35 billion, creating its LTL segment.
Midwest Motor Express (MME)
2022Added an Upper Midwest LTL carrier to complement AAA Cooper's Southeast network.
U.S. Xpress Enterprises
2023Added a large truckload fleet that Knight-Swift aimed to improve using its operating model; U.S. Xpress returned to profitability in Q2 2026.
Keep researching Knight-Swift
Knight-Swift Company History FAQ
When and where was Swift Transportation founded?
Swift Transportation was founded in 1966 in Phoenix, Arizona, by Carl Moyes and Jerry Moyes, starting as Common Market distributing imported Australian steel and cotton before growing into America's largest truckload carrier.
When was Knight Transportation established in Phoenix?
Knight Transportation was founded in 1990 in Phoenix, Arizona, by Kevin, Keith, Randy, and Gary Knight, establishing an ultra-efficient, debt-free regional truckload carrier that went public in 1994.
How did the 1980 Motor Carrier Act transform the American trucking landscape?
The Motor Carrier Act of 1980 eliminated federal interstate route and rate regulations, sparking fierce market competition and allowing low-cost, non-union carriers like Swift and Knight to outgrow legacy unionized trucking firms.
When did Swift and Knight complete their initial public offerings?
Swift Transportation completed its initial public offering on the NASDAQ in 1990, while Knight Transportation went public on NASDAQ in 1994 (later moving to the NYSE), both establishing strong shareholder return track records.
When did Knight and Swift complete their $6 billion merger of equals?
In September 2017, Knight Transportation and Swift Transportation merged in a $6 billion transaction to form Knight-Swift Transportation Holdings Inc. (NYSE: KNX), uniting the two largest trucking entities in North America.
When did Knight-Swift launch its nationwide LTL transformation in 2021?
In 2021, Knight-Swift embarked on a strategic multi-billion-dollar transformation into a nationwide LTL carrier by acquiring AAA Cooper Transportation and Midwest Motor Express, followed by US Xpress in 2023.
How did Knight-Swift expand during the 2023 Yellow Corporation bankruptcy?
In December 2023, Knight-Swift capitalized on the liquidation of legacy LTL carrier Yellow Corp, acquiring 35 freight terminals across high-density logistics corridors to bridge its regional LTL networks into a unified national system.
What is Knight-Swift's scale and leadership status in freight transportation today?
Today, Knight-Swift operates over 22,000 tractors, 85,000 trailers, and dozens of LTL terminals, generating $7.5B in revenue as the premier freight and logistics leader of North America.
How did Knight-Swift start?
The modern conglomerate was formed in 2017 via a massive $6 billion merger between Knight Transportation and Swift Transportation. The history is incredibly dramatic: Swift was founded in 1966 by Jerry Moyes. In 1990, four members of the Knight family (who actually worked at Swift) left to start their own rival company, Knight Transportation. After decades of bitter rivalry in Phoenix, the highly profitable Knight family essentially executed a reverse-takeover of the massive Swift empire.
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